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2026-11-05 16:54:27
[German Construction Activity Falls to 18-Month Low] The S&P Global German Construction PMI fell to 41.6 in October from 43.5 in September, the lowest level since March 2025. Housing remained the main drag, but the decline slowed compared to the previous month, while commercial construction recorded its largest contraction since July. Civil engineering activity also weakened, posting its largest drop in nearly two years. Meanwhile, new orders fell at the fastest pace in six months, impacted by limited bidding opportunities, tighter client budgets, and cautious consumption. Employment continued to decline, but the pace of layoffs was the slowest since June. Cost pressures intensified, with rising energy and oil-related costs pushing input price inflation to a four-month high, while subcontractor rates recorded their second-largest increase in nearly four years. Looking ahead, business confidence fell to its lowest level since May due to weak orders and continued high borrowing costs weighing on expectations.
